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Miquel y Costas & Miquel (MCM) investor relations material
Miquel y Costas & Miquel Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
H1 2026 revenue was €156.0m, down 7.4% YoY; net income fell 23.1% to €18.7m amid weaker demand, adverse FX and higher energy costs.
Geopolitical disruption, a weak US dollar and technical shutdowns for investment projects weighed on sales, margins and operating efficiency.
Financial highlights
EBITDA was €35.1m, down 13.7% YoY; operating income was €23.6m, down 23.1%.
Pretax income was €24.6m, down 23.4%; after-tax cash flow was €30.2m, down 12.0%.
Parent-company sales were €104.8m, down 4.3% YoY; after-tax income was €20.9m, down 13.1%, including dividends from investees.
Outlook and guidance
H2 is unfolding amid greater volatility, with exceptionally high energy prices following intensified Strait of Hormuz tensions; results are expected to remain below FY 2025.
Uncertainty limits reliable FY estimates; a solid financial position supports dividends and planned investment to strengthen industrial competitiveness and future growth.
- EBITDA and net income grew despite lower sales, with positive outlook sustained.MCM
Q3 2024 - Sales up 10.1% year-over-year, but net profit dipped 1.5% amid higher energy costs.MCM
Q1 2025 - Slight revenue growth offset by lower profit as costs and FX pressures weighed on results.MCM
Q3 2025 - Net profit up 10.5% to €26.8M, with margin recovery and ongoing investment amid global risks.MCM
Q2 2024 - Sales rose but profit declined due to margin pressure; outlook stable for full year.MCM
Q2 2025 - Net profit up 14% to €48.7M, with stable sales and strong investment amid global uncertainties.MCM
Q4 2024 - Revenue rose 1.5% but profits fell amid cost pressures and currency headwinds in 2025.MCM
Q4 2025 - Sales and profits declined year-over-year, but sequential growth and investment support resilience.MCM
Q1 2026
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